Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Green REIT Plans To Float On Irish Stock Exchange And London Stock Exchange

Green REIT plc, a newly-incorporated Irish property investment company, announced that it plans to seek a primary listing for its ordinary shares on the Official List of the Irish Stock Exchange, and a premium listing on the Official List of the UK Listing Authority and admission to trading on the regulated market for listed securities of the Irish Stock Exchange and on the main market for listed securities of the London Stock Exchange.

The company stated that it is seeking to raise gross proceeds in excess of 200 million euros pursuant to an institutional placing of Shares and a subscription of Shares by members of the Management Team.

The company noted that, in connection with the Placing, it intends to issue Shares to institutional and qualified professional investors, and the Management Team intends to indirectly invest approximately 10 million euros through a subscription of Shares in the company.

The company expected that Admission will become effective and dealings in the Shares will commence at 8.00 a.m. on 18 July 2013.

The company noted that it will elect to become an Irish Real Estate Investment Trust or "REIT" following Admission and is expected to be the first REIT established in Ireland following the recent introduction of REIT legislation by the Irish Government.

The company noted that it will have an experienced Board of Directors comprising four non-executive Directors, and chaired by Gary Kennedy, currently chairman of Greencore Group plc and a director of Elan Corporation plc. Jerome Kennedy, who is currently a director of Total Produce plc, Independent News & Media PLC, Caulfield McCarthy Group Retail and former managing partner in KPMG Ireland, and Thom Wernink, who is currently non-executive director of SEGRO and Atrium European Real Estate, and former chairman of the Management Board (CEO) of Corio, will serve as independent non-executive Directors. Stephen Vernon, a nominee of the Investment Manager and chairman of Green will also serve on the Board as a Director.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Computer and printer maker Hewlett-Packard Co. (HPQ) said Wednesday after the markets closed that its third quarter profit fell 29% from last year, hurt mainly by higher restructuring charges even as revenue grew 1%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue beat analysts' forecast. Stocks fluctuated over the course of the trading day on Wednesday before ending the session mostly higher. The Dow and the S&P 500 both finished the day in positive territory, although the tech-heavy Nasdaq posted a modest loss. President Barack Obama spoke harshly of the terrorist group allegedly responsible for the execution of American freelance journalist James Foley in a statement on Wednesday. Obama described the group known as the Islamic State of Iraq and the Levant, or ISIL, as a cancer that needs to be extracted.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.